Key takeaways
Capital city weekend auction markets have commenced December with generally steady results despite another big day of late year auctions in most capitals.
Adelaide had the strongest auction clearance rate of 70.3%.
Auction clearance results for the other capitals were:- Melbourne – 65.2%; Sydney – 69.6%; Brisbane – 53.1% and Canberra – 540.%.
The national auction market reported a clearance rate of 62.4% at the weekend which was higher than the 60.1% reported over the previous weekend – and also higher than the 61.8% recorded over the same weekend last year.
National auction numbers were slightly higher at the weekend with 2234 listings compared to the previous weekend’s 2215, but remained well above the 1997 listed over the same weekend last year.
Capital city weekend auction markets have commenced December with generally steady results despite another big day of late year auctions in most capitals.
Auction results around Australia, Saturday December 2nd 2023:
| Capital City | This Week | Last Weekend | ||
|---|---|---|---|---|
| Auctions | Rate | Auctions | Rate | |
| Sydney | 859 | 69.6% | 914 | 68.3% |
| Melbourne | 1071 | 65.2% | 1019 | 62.3% |
| Brisbane | 91 | 53.1% | 102 | 44.3% |
| Adelaide | 133 | 70.3% | 105 | 73.6% |
| Canberra | 80 | 54% | 75 | 51.9% |
The national auction market reported a clearance rate of 62.4% at the weekend which was higher than the 60.1% reported over the previous weekend – and also higher than the 61.8% recorded over the same weekend last year.
National auction numbers were slightly lower at the weekend with 2215 listings compared to the previous weekend’s 2308, but well above the 1905 listed over the same weekend last year.
Auction market results were steady overall at the weekend despite another big weekend of auctions.
The prospect has increased that the RBA will leave official rates on hold for December when it meets next Tuesday, following a clear improvement in the October inflation rate released by the ABS last week.
Sydney auction clearance results
Sydney Clearance Rates Higher Again Despite High Listings
The Sydney auction market again reported a higher clearance rate at the weekend despite yet another big day of end-of-year auctions.
Sydney recorded a clearance rate of 69.6% at the weekend which was marginally higher than the 68.3% recorded over the previous weekend and also higher than the 63.2% recorded over the same weekend last year.
Saturday auction numbers were high again at the weekend with 859 listed versus the 914 auctioned over the previous Saturday, and again well above the 694 listed over the same weekend last year.
Sydney recorded a median price of $1,625,000 for houses sold at auction at the weekend which was higher than the $1,580,000 recorded over the previous weekend and 4.6% higher than the $1,553,500 recorded over the same weekend last year.
The Inner West recorded the highest regional clearance rate at the weekend at 73.6% followed by Canterbury Bankstown and the Lower North each with 72.7%.
The South West reported the lowest clearance rate at 60.2%.
The clearance rate for houses was 69.0% with units slightly higher this weekend at 70.7%.
The top reported Sydney auction sale at the weekend was a 5-bedroom house at 28 Joubert St Hornsby that sold for $8,500,000.
View top selling home here 28 Joubert St Hornsby
The most affordable home reported sold at auction in Sydney at the weekend was a 2-bedroom unit at 24/30 Speed St Little Bay that sold for $295,000.
Melbourne auction clearance results
Melbourne Market Rises on Yet Another Big Listings Day
The Melbourne weekend auction market reported a higher clearance rate at the weekend despite yet another big day of early summer listings.
Melbourne recorded a clearance rate of 65.2% on Saturday which was higher than the 62.3% recorded over the previous weekend and now also higher than the 64.0% recorded over the same weekend last year.
1071 homes were reported listed over the weekend which was higher than the 1019 auctioned over the previous weekend, and also well ahead of the 844 listed over the same weekend last year.
Melbourne recorded a median price of $1,117,500 for houses sold at auction at the weekend which was higher than the $1,053,000 reported over the previous weekend and 3.7% higher than the $1,077,500 recorded over the same weekend last year.
Melbourne’s Outer East reported the top regional clearance rate on Saturday with 74.8% followed by the Inner East at 68.9% and the Inner City 65.7% .
The North recorded the lowest regional rates at 58.6%. The house clearance rate was 64.9% with units higher this weekend at 67.0%.
Melbourne’s top reported auction sale at the weekend was a 6-bedroom house 5A Neave St Hawthorn East at that sold for $5,018,000.
View top selling home here 5A Neave St Hawthorn East
The most affordable home reported sold at auction in Melbourne at the weekend was a 1-bedroom unit at 4/295 Cumberland Rd Pascoe Vale that sold for $392,700.
Top Brisbane Auction Results
Top Adelaide Auction Results
Top Canberra Auction Results
